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Other Rumblings

Ian Bund, the senior statesman among Michigan's venture capitalists, is at it again. His Ann Arbor-based venture capital company, Plymouth Management Co., has launched its third, and what it plans to be largest, fund.

Plymouth Venture Partners III is targeting a size of $60 million. Fund II raised $41 million and Fund I $23 million. The third fund will continue the strategy of investing in growth-stage businesses in the Great Lakes region.

Bund, 69, was honored last May with the lifetime achievement award at the sixth annual Crain's Detroit Business M&A Awards. He was recruited to Michigan in 1976 to join one of the two small venture capital firms then operating in the state, Midland-based Doan Associates.

Over the years, firms he has managed have invested in more than 350 companies.

Bund, a principal and senior adviser at Plymouth Management, has steadfastly maintained he has no plans to go out to pasture despite owning a farm up north near Harbor Springs.